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Crypto Market Update (25 September 2018)

The market is continuing a significant decline overall that began yesterday. Nearly all coins are in the red, but trading volume is climbing - a nearly $3 billion rise to around $15 billion in 24 hours. IOST (IOST) is the major only significant stand out of the top 100 coins by market cap - up almost 7% in the past 24 hours. Bitcoin (BTC) is right around $6,400 for -3% and a total market dominance of 53.7%, and Ethereum (ETH) is right at $210 for -10% change in the past 24 hours. Market cap for the overall cryptocurrency market lost just over $12 billion now breaking the downtrend at about $207 billion total.

Major Headlines

Walmart Enforcing Proprietary Blockchain System

Last year Walmart implemented a blockchain network in partnership with IBM to track the food chain of specific produce from farm to customer. Using blockchain systems in this way provides a live data feed back on the items in a way never achievable before. The company now plans to sell leafy greens using the system, which means that their suppliers will be required to participate in the network as the origin of the products. The platform is called the IBM Food Trust network and will create end-to-end traceability. This process is launched to defend against bacterial outbreaks, such as the recent E. coli outbreak that originated in the U.S. state of Arizona earlier this year. Suppliers have until the end of January 2019 to initiate the one-step back traceability."

UNICEF Accepting Cryptocurrency Donations

In February of this year UNICEF launched a project called “Game Changers” to incentivise video game players to donate to children in Syria. They set a method where gamers indirectly donated cryptocurrency by leveraging their CPU power to a communal mining pool. By March, 85 ETH was raised. They will begin accepting direct contributions of Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Dash, Monero, EOS and Stellar. “Cryptocurrencies and blockchain technology for charitable purposes offer a new opportunity to appeal to the generosity of the public and continue to develop our actions…” Sebastien Lyon, executive director of UNICEF France

Coinbase Continues Diversifying Investment Services

Large scale, institutional stock traders have traditionally shied away from cryptocurrency exchanges, because of uncertain regulatory precedents. This is being addressed by countries around the world, with many now having novel financial regulations for the cryptocurrency industry. Coinbase is now working with a crypto-startup called Caspian to cater to pro traders and financial firms. Coinbase Pro will integrate Caspian's "full stack" of tools for additional trading and portfolio management features. The major benefit of their platform is that it provides increased liquidity by connecting 25 other cryptocurrency trading platforms.